If the baht appreciates to 30-31 per US dollar, Thai export will expand 3.5 per cent and if the baht stays at 33 per US dollar, export will grow higher at 5.5 per cent this year, he said. The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) estimates export growth in a range of 3.5-6 per cent this year. “Thai baht has appreciated more than its competitors, like the Vietnamese currency, while Vietnam and Indonesia have lower labour costs than Thailand. The baht appreciation has come from Thailand’s high export growth and strong economic growth with higher foreign reserves and foreign investment in Thai stocks and bonds, while the United States has a policy for US dollar depreciation, he said. Meanwhile, the JSCCIB set up a working group to work with the government to find solutions to the baht appreciation.

Source: The Nation Bangkok February 06, 2018 17:03 UTC